U.S. President Donald Trump urged oil producers and refiners to increase capacity and fuel availability as gasoline prices exceeded $4 per gallon, but executives and analysts said short-term expansion is limited. Refiners have operated near maximum levels amid U.S.-Iran war-related supply disruptions, depleted global inventories and seasonal demand, while new facilities could take about five years and billions of dollars to build as fuel demand levels off or declines. AAA reported gasoline at $4.1203 per gallon and diesel at $5.6879 on Wednesday in one report, while a Thursday update put the national averages at $4.14 and $5.78, respectively, with AAA predicting the most expensive Labor Day weekend on record. Chevron plans to invest more than $7 billion in Venezuela over five years to double production to approximately 600,000 barrels per day from 2026 levels, while Trump separately described a deal involving about 65 billion barrels of proven Venezuelan reserves; analysts said neither measure would quickly resolve U.S. refining constraints. U.S. refinery utilization reached 98% at the end of August, including 103.5% in the Midwest and 99.8% in the Rockies. WTI traded near $90 per barrel early Thursday in one report and around $91.50 Thursday afternoon, compared with $67 on February 28, while Brent reached $95.55.